Retirement Plan Mismanagement
LHC Group 401(k) Plan Breach of Fiduciary Duties Class Action
This class action, against LHC Group, Inc., the LHC Group 401(k) Committee, and a group of individuals, alleges that these defendants mismanaged the company’s LHC Group 401(k) Plan. The complaint claims they paid excessive fees for services, chose more expensive share classes than they needed to, and maintained underperforming investment options in the plan when Read more
Wells Fargo Challenged Funds in Retirement Plan Settlement
Wells Fargo & Company, Wells Fargo Bank, NA and their Employee Benefit Review Committee are paying more than $32 million to resolve a class action about its retirement plan under the Employee Retirement Income Security Act of 1974 (ERISA), alleging the defendants breached their fiduciary duties and engaged in prohibited transactions in connection with the Read more
Baptist Health of South Florida 403(b) Plan Fiduciary Duties Class Action
The Employee Retirement Income Security Act (ERISA) “imposes strict fiduciary duties of loyalty and prudence upon employers and other plan fiduciaries[,]” says the complaint for this class action. It brings suit against Baptist Health of South Florida, Inc. (BHSF), its Board of Directors, and its Retirement Plan Committee, alleging that these entities breached those duties Read more
Lowe’s 401(k) Plan Litigation Settlement
A partial settlement has been reached with Lowe’s Companies, Inc. and the Administrative Committee of Lowe’s 401(k) retirement plan, in a class action suit against these parties and Aon Hewitt Investment Consulting, Inc. The complaint alleged that the defendants breached their fiduciary duties to the plan under the Employee Retirement Income Security Act (ERISA) when Read more
Novitex Enterprise Solutions Retirement Plan Settlement
Exela Enterprise Solutions, Inc. and the Novitex Enterprise Solutions Employee Benefits Committee are settling a class action alleging that the two did not perform proper oversight of the former Novitex Enterprise Solutions Retirement Savings Plan, which was ended in December 2018 when its assets were merged with the Source HOV 401(k) Plan, forming the Exela Read more
WakeMed Retirement Plan Fiduciary Duties Settlement
WakeMed and its insurer are paying a little less than a million dollars to settle a class action alleging the company and other parties breached their fiduciary duties to the WakeMed Retirement Savings Plan. The complaint alleged that WakeMed chose and maintained certain mutual funds for the plan that were more expensive than other, similar Read more
Northern Trust Retirement Plan Imprudent Investment Options Class Action
This class action brings suit against the Northern Trust Company and its Employee Benefit Administrative Committee and its members for failing to properly monitor and replace poorly-performing investment options in the company’s retirement plan, the Northern Trust Company Thrift-Incentive Plan. The complaint alleges that the defendants have breached their fiduciary duties under the Employee Retirement Read more
Brenntag Profit-Sharing Plan Breach of Fiduciary Duty ERISA Settlement
This settlement resolves a class action against Brenntag North America, Inc., its Board of Directors, and its Investment and Oversight Committee. The complaint alleged that these parties breached the fiduciary duties of loyalty, care, and prudence owed to the Brenntag USA Profit-Sharing Plan, because they did not try to reduce the plan’s expenses or properly Read more
Kaleida Health 403(b) and 401(k) Breach of Fiduciary Duties Class Action
This class action brings suit against Kaleida Health, its Board of Directors, its Retirement Plan Committee, and a number of related individuals, under the Employee Retirement Income Security Act (ERISA). The complaint alleges that these defendants breached their fiduciary duties to the company’s retirement plans by “incur[ring] expenses that were excessive, unreasonable and/or unnecessary.” Read more
Cerner Corporation Retirement Plan ERISA Settlement
Cerner Corporation is paying more than $4 million to settle a class action alleging it breached its fiduciary duties under the Employee Retirement Income Security Act of 1974 (ERISA) in connection with its retirement plan. The complaint alleged that the company offered unnecessarily expensive investment options, paid excessive administrative fees, and concentrated investments in Cerner Read more